SBA Loan from Whidbey Island Bank Helps Direct Selling Establishments Company

Whidbey Island Bank has a track record as a leading provider of SBA loans. Find out how this Washington entrepreneur received an SBA loan from them.

This growing company received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with Whidbey Island Bank, out of Oak Harbor, Washington. The loan was granted and they received $51,900 to help grow their Oak Harbor, Washington business.

SBA Loan Borrower

COMPANY TYPE: DIRECT SELLING ESTABLISHMENTS
OAK HARBOR, WA 98277

SBA Loan Lender

WHIDBEY ISLAND BANK
450 SW BAYSHORE DR
OAK HARBOR, WA 98277

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

454390 - Direct Selling Establishments

Loan Approval Date

3/1/2005

Loan Approval Gross Amount

$51,900

Loan Approval from the SBA

Of the total $51,900 loan amount, the SBA guaranteed $44,115.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had only one employee. The SBA loan application for the borrower did not indicate that the company promised to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you are raising money in Oak Harbor WA, you ought to talk with a local Oak Harbor SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Oak Harbor businesses.

While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ.

Related Links:

Attracting Investors

Where to Get an SBA Loan in Oak Harbor, Washington

Washington SBA 7A Lenders